January 27, 2014
Paulo Trevisani & John Lyons – The Wall Street Journal, 1/24/2014
Dilma Rousseff, flew to the global capitalist summit in Davos, Switzerland, for the first time as Brazil’s president and delivered a plea for foreign investment, underscoring the urgency of finding antidotes for its sluggish economy.
“Our success in the coming years will rely on partnerships with investors in Brazil and all over the world,” Ms. Rousseff said Friday at the World Economic Forum. “My government has taken measures to improve this relationship even more.”
In a half-hour speech, her first to the annual Alpine gathering by the former Marxist guerrilla, Ms. Rousseff reaffirmed her country’s commitment to economic fundamentals like a free-floating currency and fiscal stability, and promised Brazil would become more competitive, hoping to counteract a souring investor perception of her country in recent years.
January 24, 2014
Brazilian President Dilma Rousseff defended her administration’s management of a struggling economy on Friday though stopped short of offering concrete steps to calm investor nerves in the midst of an emerging market sell-off.
In what aides described as a major speech designed to regain foreign investors’ trust at the World Economic Forum in Davos, Switzerland, Rousseff reiterated a commitment to balanced public finances and inflation targeting amid mounting investor criticism of her administration.
“I want to emphasize that we will not be weak on inflation,” Rousseff said. “On the other hand, fiscal responsibility is a basic principle of our vision for economic and social development.”
January 23, 2014
Brazilian Finance Minister Guido Mantega said on Thursday that a recent slowdown in price increases in January shows his government is committed to keep inflation under control.
Speaking at a webstreamed press conference from Davos, Switzerland, Mantega said the government has not yet decided on its budget fiscal goal for 2014. Investors are keeping a close eye on the government finances that have quickly deteriorated over the last two years.
January 21, 2014
Anthony Boadle – Reuters, 1/20/2014
Brazil’s leftist President Dilma Rousseff will try to convince the world’s business elite in Davos this week that her country is still a good investment despite three years of mediocre growth.
The one-time Marxist guerrilla has decided to reach out to the rich and powerful for the first time at the annual World Economic Forum in the Swiss ski resort of Davos to reassure them she is business-friendly and not fiscally profligate.
That is a big turnaround for a leader with a reputation for heavy-handed policies that have squeezed profits of some companies and hurt share prices. Dispelling skepticism about Brazil’s future will be an uphill task as Rousseff plans to seek re-election in October.
January 24, 2013
Guillermo Parra-Bernal – Reuters, 01/24/2013
Brazil’s central bank is committed to bringing down inflation, its president said, as he defended the government against criticism it had abandoned cornerstones of its economic policy.
Policymakers are not ruling out the use of traditional monetary tools to contain rising consumer prices, central bank President Alexandre Tombini told an audience at the World Economic Forum in Davos, Switzerland late on Wednesday.
Tombini said the central bank is committed to bringing inflation down to 4.5 percent this year. In the 12 months to mid-January, it accelerated to 6.02 percent from 5.78 percent one month before, putting it near the top of the bank’s target range of 4.5 percent plus or minus 2 percentage points.